The Government of Canada has established the Canada Apprentice Loan program to assist individuals with completing their apprenticeship in a designated Red Seal trade through the Finishing Trades Institute of Ontario (FTI Ontario).

Canada apprenticeship loan participants may be eligible for up to $4,000 in interest-free loans per period of technical training, which can be used towards tuition, tools, equipment, living expenses, forgone wages, or family support.

What You Need to Know About Eligibility Requirements

The Canada Apprentice Loan is offered in all provinces and territories except Quebec. To be eligible, you must meet the following conditions:

  • Be a Canadian Citizen, Permanent Resident, or Protected Person recognized by Immigration and Refugee Board and Citizenship and Immigration Canada.
  • Be enrolled in a Red Seal Trade apprenticeship program designated by the province or territory where you’re registered as an apprentice.
  • Be participating in block release technical training or equivalent full-time technical training with an approved technical training provider.
  • Pass a credit check (if you’re applying for the first time).

You can’t apply for the Canadian Apprentice Loan if:

  • You’re a high school student.
  • You’re an apprentice registered in Quebec.
  • You’re already receiving a Canada Student Loan for the same technical training.
  • You’ve been informed you’re restricted from receiving a Canada Apprentice Loan or Canada Student Loan.
  • You’ve received funding for 5 periods of technical training.
  • You’ve received six years of interest-free status.

Applying for the Canada Apprentice Loan is Simple

By registering and/or signing in to the Canada Apprentice Loan Online Service Portal, you can securely apply for the loan. The portal also enables you to:

  • Set up direct deposit
  • Check your loan status, history, and account balance
  • Get information on repaying the loan
  • Download necessary forms from the toolbox
  • Update your contact information

Creating an account through the Canada Apprentice Loan Portal allows you to save and resume a pending application, or make changes to a submitted one.

Repaying and Maintaining Your Canada Apprentice Loan

Your Canada Apprentice Loan payments and interest accumulation are deferred until the completion or discontinuation of your apprenticeship training program. Six months after your apprenticeship ends, you must begin repaying the loan.

Since April 2021, the Canadian government has suspended the growth of interest on Canada Apprentice Loans until March 31, 2023.

To maintain your interest-free status and keep your loan payments deferred, it’s crucial to verify your registration in a Red Seal Trade apprenticeship program with your province/territory or technical training provider like FTI Ontario.

Once you’re no longer registered as a Red Seal apprentice, interest will start accruing on your loan 12 months after the conclusion of your technical training or 12 months after your province/territory last confirmed your Red Seal apprentice status.

Make sure to keep your contact information up to date to ensure proper verification of your Canada apprenticeship loan status and any changes with your province/territory or training provider.

Click here for more information about the Canada Apprentice Loan.

Get Started with FTI Ontario Today

At FTI Ontario, you can choose from various designated Red Seal Trades that qualify for the Canada Apprentice Loan and get started on your apprenticeship journey. To learn more and start a career in the trades, click here.